Bowden, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Bowden, Alberta is experiencing a steady growth phase. The median house price currently stands at $500,000, reflecting a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes, likely driven by factors such as the area’s livability, amenities, and economic opportunities. Similarly, the apartment sector is exhibiting resilience with a median price of $300,000 and an appreciation trend of 2.1% over the past year. This growth is moderate but consistent, indicating stable investment returns for condominiums and multi-family units.
Investment Opportunities and Potential
Bowden’s real estate market presents several attractive investment opportunities. The consistent appreciation in house and apartment prices suggests that investments made in residential properties are likely to yield positive capital gains over time. Additionally, the robust population growth of 7.1%, which is significantly higher than national averages, points to increasing housing demand. This demographic trend could present potential for investors in terms of both rental markets and resale values. Given the current trends, areas for investment consideration could include new construction projects to meet the growing demand or renovation of existing properties to capitalize on the upward pricing trajectory.
Future Market Outlook
The future market outlook for Bowden remains optimistic. With a growing population that has risen to 15,000, there will likely be sustained demand for housing. Assuming no major economic disruptions occur locally or nationally, the steady increase in property values is anticipated to continue. The prevailing economic conditions, combined with Bowden’s attractiveness to new residents, should support ongoing investments and development within the town’s real estate sector. Investors should monitor factors such as interest rates, employment rates, and regional economic policies which can impact growth rates and investment returns over time.
